Global Packaging Inks Market Size Worth USD 18.4 Billion By 2033 | CAGR of 8.03%
Category: Chemicals & MaterialsGlobal Packaging Inks Market Size Worth USD 18.4 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Packaging Inks Market Size is Expected to Grow from USD 8.5 Billion in 2023 to USD 18.4 Billion by 2033, at a CAGR of 8.03% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 115 Market data tables and figures & charts from the report on the "Global Packaging Inks Market Size, Share, and COVID-19 Impact Analysis, By Type (Solvent based, Water based, and Others), By Printing Method (Flexographic, Gravure, and Others), By Application (Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Detailed Report Description Here: https://www.sphericalinsights.com/reports/packaging-inks-market
The packaging inks market refers to the market of inks used for printing on packaging materials. Packaging inks are colorants, binders, solvents, and additives used to enhance the appearance of packaging and to preserve the image quality. They are an essential part of product packaging, aiding in informational communication, branding promotion, and enhancing the visual appeal of the product. The choice of packaging ink is influenced by the printing technique, the packaging materials, and the specific requirements of the application, including resistance, durability, and environmental issues. The use of specialty inks has enabled firms to create customized batches, boosting client engagement and loyalty, from incorporating names to distinctive artwork. Further, the integration of smart technologies like NFC, AR markers, and QR codes with packaging inks, enhances the customer experience and gives marketers access to useful data, thereby escalating the market growth opportunities for packaging inks. The growing awareness about the environmental impact of packaging waste such as ink pollution and toxicity issues is driving the market demand. Further, the increasing popularity of packaging inks due to their color, flow behavior, good surface appearance, performance, and gloss is propelling the packaging inks market. However, the environmental and regulatory challenges for reducing the ecological footprint of packaging materials are restraining the market growth.
The solvent based segment dominated the market with the largest revenue share and is anticipated to grow at a significant CAGR during the forecast period.
Based on the type, the packaging inks market is classified into solvent based, water based, and others. Among these, the solvent based segment dominated the market with the largest revenue share and is anticipated to grow at a significant CAGR during the forecast period. Solvent based packaging inks are essential for usage on the packaging because they provide prints that are long-lasting, and resilient to rubbing, and scratching.
The flexographic segment accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the printing method, the packaging inks market is classified into flexographic, gravure, and others. Among these, the flexographic segment accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period. Water-based flexo inks are becoming more and more popular as a way to lessen the production process’s negative environmental effects. The low cost and environment-friendly nature of flexographic inks is driving the market demand.
The food & beverages segment held the largest revenue share in 2023 and is anticipated to grow at a significant CAGR during the predicted timeframe.
Based on the application, the packaging inks market is classified into food & beverages, cosmetics & personal care, pharmaceuticals, and others. Among these, the food & beverages segment held the largest revenue share in 2023 and is anticipated to grow at a significant CAGR during the predicted timeframe. Application of packaging inks includes marking and coding with lot information, expiration dates, and 2D codes. The rising popularity of flexible packaging is driving the market demand in the food & beverages segment.
Asia Pacific is estimated to hold the largest share of the packaging inks market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the packaging inks market over the forecast period. The increasing demand for the packaging and labels sector in the region is propelling the packaging inks market. Further, the expanding retail sector and the growing demand for products in packaging and labeling applications in emerging economies like China and India are driving market expansion in the region.
North America is predicted to grow at the fastest CAGR in the packaging inks market over the forecast period. The demand for environment-friendly printing inks owing to the stringent regulatory landscape is propelling the packaging inks market growth. The increasing need from the pharmaceutical industry and the adoption of new technologies are supporting the market of packaging inks.
Major key players in the global packaging inks market include Arkema S.A., Akzo Nobel N.V., Flint Group, Siegwerk Druckfarben AG & Co. KGaA, Sun Chemical, Interstate Inks, Altana AG, Sakata Inx (India) Private Limited, INX International Ink Co., Chemicoat, Toyo Ink Co., Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In May 2024, Flint Group, a leader in ink and coating solutions for the printing and packaging sectors, announced the expansion of its TerraCode range with its latest addition: TerraCode Bio. This new range expands Flint Group’s environmentally conscious bio-based extenders and coatings designed for the corrugated market.
- In March 2024, Global print consumables supplier Flint Group launched Novasens P670 PRIME, a high-performance low odour, low migration (LOLM) process ink series formulated to meet the needs of Sheetfed Offset packaging printers worldwide.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the packaging inks market based on the below-mentioned segments:
Global Packaging Inks Market, By Type
- Solvent based
- Water based
- Others
Global Packaging Inks Market, By Printing Method
- Flexographic
- Gravure
- Others
Global Packaging Inks Market, By Application
- Food & Beverages
- Cosmetics & Personal Care
- Pharmaceuticals
- Others
Global Packaging Inks Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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